PRIVATE PLAYERS IN THE LIFE INSURANCE SECTOR:

The different private players in the life insurance sector and their associations with
foreign companies are being given below:
COMPANY INDIAN FOREIGN TOTAL FDI FOREIGN
PROMOTER/PARTNER INSURER CAPITAL (%) CAPITAL
(RS MN.) (RS MN.)
AMP RELIANCE None 2,170 0 0
SANMAR GROUP(ADAG)
Aviva Life Dabur Aviva (UK) 4,590 26 1193.4
Bajaj- Bajaj Auto Allianz 3680 26 960
Allianz (Germany)
Birla Sun Aditya Birla Group SunLife 4,000 26 1,040
Life (Canada)
HDFC HDFC StandardLife 2,500 18.9 470
Standard (UK)
ICICI ICICI Bank Prudential (UK) 10,850 26 2,820
Prudential
ING Vysya Vysya Bank ING Ins. 4,400 26 680
(Netherlands)
Kotak Kotak Mahindra Bank OldMutual 2,600 26 680
Mahindra (South Africa)
Old Mutual
Max Max India NewYorkLife 5,000 26 1,300
Newyork (US)
Met Life J&K Bank Met Life (US) 3,550 26 920
Sahara Sahara India None 1,000 0 0
Life Ins. I
SBI Life SBI Cardiff (France) 3,500 26 910
TATA AIG TATA Group AIG (US) 3,810 26 990
Shriram Shriram Sanlam Life Ins.
 Joint Venture between India’s largest housing finance provider –
HDFC and Europe’s largest mutual life assurance company – The
Standard Life Assurance Company (UK)

 HDFC Standard Life Insurance Company is the First Private Sector

Life Insurance Company to be granted a license

Products Offered are:

o Endowment Assurance Plan
o Money Back Plan
o Development Insurance Plan

 Joint Venture between the ICICI Group and Prudential (UK)

 Came together in 1993
 Prudential is the largest life insurance company in UK

Products Offered:
o Endowment Assurance Plans
o Protection Plans
 Coming together of the Aditya Birla Group and Sun Life Financial of
Canada
 The Sun Life Financial Group of companies and partners are
represented globally in Canada, Philippines, Japan, Indonesia, India
and Bermuda

Products Offered:
o Endowment Plan
o Money Back Plan
Whole Life Plan
 MARKET SHARE

Market Share
Private Insurer 2002-03 2003-04
ICICI Prudential 1.51 3.14
SBI Life 2.03 2.96
Birla Sunlife 2.63 2.76
Tata-AIG 1.69 2.2
Universal Insurance Co. 1.5 2.02
Met Life 1.27 1.6
Aviva 1.3 1
Bajaj Allianz 0.07 0.69
Om Kotak 0.1 0.6

Market Share
Insurer 2002-03 2003-04
New India 27.5 24.99
National 20.08 21.2
United India 20.81 19.04
Oriental 19.52 17.8
Life Insurer in Public Sector
1. Life Insurance Corporation of India

Life Insurers in Private Sector

1. SBI Life Insurance
2. Metlife India Life Insurance
3. ICICI Prudential Life Insurance
4. Bajaj Allianz Life
5. Max New York Life Insurance
6. Sahara Life Insurance
7. Tata AIG Life
8. HDFC Standard Life
9. Birla Sunlife
10. Kotak Life Insurance
11. Aviva Life Insurance
12. Reliance Life Insurance Company Limited - Formerly known as AMP Sanmar
LIC
13. ING Vysya Life Insurance
14. Shriram Life Insurance
15. Bharti AXA Life Insurance Co Ltd
16. Future Generali Life Insurance Co Ltd
17. IDBI Fortis Life Insurance
18. AEGON Religare Life Insurance
19. DLF Pramerica Life Insurance
20. CANARA HSBC Oriental Bank of Commerce LIFE INSURANCE